"(The company) continues to contend with erratic consumer confidence and economic indicators making customers even more determined than ever to seek true value for money."

Briscoes had capital spending of $21.6m during the year, three quarters of it going on new shops and refurbishing current stores, while it held high levels of stocks to cope with demand from two new Rebel Sports stores and on-line shopping.

Mr Duke said all the signs were that retailers will continue to feel strong headwinds.

"Economic uncertainty had certainly tested consumer confidence; increased wage pressures, erratic fuel prices and a challenging New Zealand dollar, all factors which have and will continue to impact retailers' ability to maintain margins."

Briscoe's 19 percent holding in outdoor goods company Kathmandu returned a dividend of $6.4m.

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As of 3pm on March 21, a wide range of semi-automatic weapons have been reclassified under section 74A(c) of the Arms Act as requiring an E endorsement on a firearms license. This means they can no longer be sold to those with A-category gun licenses, and their purchase now requires police approval.

Social scoreboard

Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

In the wake of the attack on Christchurch’s Muslim community on March 15, strong calls for changes to New Zealand’s gun last have been made. Trade Me was the first retailer to act, halting the sale of all semi-automatic weapons on its platform, and it has now been joined by Hunting & Fishing New Zealand.

As 2018 comes to an end, what a more fitting Instagram page to celebrate than our own. NZ Retail Magazine has had a busy year, and keeping readers up to date through our Instagram page has been an important part of that. Plus it looks pretty good if you ask any of us.

Let the retail store name generator rebrand your business

We know every shop name is chosen with care and attention, but it's a crowded market out there, and sometimes the results can seem a little random. Instead of fighting that randomness, we thought, why not just go with it?

If you were born in a leap year, you can add some not-so-exotic spice to your business name with our random French or Italian word generator. If not, carry on to the next table.